Nasdaq listed IT services company Cognizant reported growth of 10% in its annual revenue for CY2021 at $18.5 billion. This marks the company’s return to double-digit annual revenue growth for the first time after 2015.

Cognizant also guided that for FY2022 it expects revenue growth to be in the range of 8.5% to 11.5%, which means revenue outlook of $20 billion to $20.5 billion.

Cognizant reported revenue of $4.8 billion in Q4 (December quarter), up 14.5% year-on-year in constant currency. For the same quarter, TCS reported revenue growth of 15.4% at $6.52 billion & Infosys reported growth of 21.5% at $4.25 billion for the Oct-Dec quarter.

The company which has been severely hit by rising attrition said that it has seen a record year in hiring at both fresher and lateral levels. It added 33,000 college graduates in India in 2021. It hired a total number of 41,000 associates for the fiscal. Attrition for the fourth quarter was at 28%  (LTM basis) and voluntary annualized attrition was up 31%. Still higher than TCS, and Infosys. Attrition for the company has come down from 33% in Q3.

“We successfully executed our strategy by meaningfully enhancing our digital portfolio, strengthening our international presence, and helping our clients be successful,” said CEO Brian Humphries. “We begin 2022 with momentum and confidence that our talented employees position us to capture the substantial market opportunity.”

Cognizant also reported that its digital revenue is now 45% of its total revenue and grew 20% year-on-year.

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